Algeria: Authorities boasts of 350, 000 micro-companies funded since 1996

Algeria’s national agency for youth employment (ANSEJ) Wednesday announced that it has sponsored creation of 350,000 micro-companies nationwide since its creation.
According to the Managing Director of the agency, Zouaoui Abdelhamid over one million jobs have been created in those 350,000 micro-companies.
Abdelhamid was speaking at company creation fair entitled “micro-company, alternative to oil” organized at the University of Abdelhamid Ibn Badis in Mostaganem, north-west of Algeria.
He also added that 20,000 other micro-companies have been sponsored this year by his agency with around 60,000 jobs already created. Abdelhamid also went on saying that several other development projects related to the specific needs of every wilaya will be sponsored in the near future.
Authorities are also looking to launch a new vision aiming at promoting innovation in the creation of the micro-companies that can unleash added value to the local economy, national economy as well as creation of new jobs.
Also attending the fair, governor of the Mostaganem, Abdelwahid Temmar also urged students to innovate in their companies.
The fair according to the initiators aims at urging students to create their own companies in their various fields and while creating added value at a moment when the country is going through economic downturn due to collapse of the oil price.
With the continuing collapse of the oil price and unable to revive the economy, Algerian authorities are developing new strategies and policies to diversify the economy with bold emphasis is being put on private sector including tourism, renewal energy.